KeyBanc Capital Markets has maintained its Sector Weight rating on Apple Inc. (NASDAQ: NASDAQ:AAPL) following the tech giant's September product launch event.
The assessment came after evaluating the event's offerings, which included the iPhone 16 Pro's adoption of a new camera design and other feature enhancements across Apple's product lineup.
The analyst from KeyBanc highlighted that the event did not present significant positive surprises and noted slightly less aggressive promotions from mobile carriers.
Despite this, there are positive implications for Cirrus Logic (NASDAQ: NASDAQ:CRUS) due to several upgrades in the iPhone 16 Pro and Pro Max models, such as the tetraprism (folding lens) camera design, Camera Control with a haptics driver, and new Ultra Wide cameras that likely feature the latest camera controllers.
Additionally, Broadcom Inc. (NASDAQ:AVGO) is set to benefit from the introduction of Wi-Fi 7 across all new iPhone models. Analog Devices , Inc. (NASDAQ:ADI) is expected to see moderate gains due to the inclusion of a force sensor in the Camera Control feature. Qualcomm (NASDAQ:QCOM) Incorporated (NASDAQ:QCOM) is also anticipated to have slightly positive implications from an increase in RF content in the iPhone 16.
However, the outlook for Skyworks Solutions, Inc. (NASDAQ:SWKS) is not as favorable, as the increase in RF front-end Wi-Fi 7 content is expected to be counterbalanced by a loss of RF content to Qualcomm.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.